Veralto (NYSE:VLTO) Issues Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Veralto (NYSE:VLTO) posted its quarterly earnings data on Wednesday. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.04, Briefing.com reports. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm posted $0.75 earnings per share.

Veralto Stock Down 1.6 %

NYSE:VLTO traded down $1.74 during mid-day trading on Friday, hitting $104.05. The stock had a trading volume of 1,534,222 shares, compared to its average volume of 1,556,290. The company has a current ratio of 1.96, a quick ratio of 1.70 and a debt-to-equity ratio of 1.56. Veralto has a twelve month low of $65.51 and a twelve month high of $115.00. The company has a market capitalization of $25.68 billion and a PE ratio of 32.62. The stock has a 50-day simple moving average of $110.75 and a two-hundred day simple moving average of $102.73.

Veralto Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend is Friday, September 27th. Veralto’s dividend payout ratio is currently 11.29%.

Analyst Ratings Changes

VLTO has been the subject of a number of research reports. TD Cowen upped their target price on shares of Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. The Goldman Sachs Group increased their price objective on shares of Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a report on Monday, July 29th. Stifel Nicolaus boosted their target price on Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Royal Bank of Canada upped their price target on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research report on Friday. Finally, Robert W. Baird lifted their price objective on Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $108.27.

Insider Activity

In other news, SVP Surekha Trivedi sold 753 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $106.72, for a total value of $80,360.16. Following the transaction, the senior vice president now owns 12,671 shares in the company, valued at approximately $1,352,249.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Veralto news, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $106.72, for a total transaction of $80,360.16. Following the transaction, the senior vice president now owns 12,671 shares of the company’s stock, valued at approximately $1,352,249.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jennifer Honeycutt sold 13,191 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $111.98, for a total value of $1,477,128.18. Following the completion of the sale, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at $15,514,381.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,039 shares of company stock worth $4,310,335. 0.31% of the stock is currently owned by corporate insiders.

Veralto Company Profile

Veralto Corporation provides water analytics, water treatment, marking and coding, and packaging and color services worldwide. It operates through two segments, Water Quality (WQ) and Product Quality & Innovation (PQI). The WQ segment offers precision instrumentation and water treatment technologies to measure, analyze, and treat water in residential, commercial, municipal, industrial, research, and natural resource applications through the Hach, Trojan Technologies, and ChemTreat brands.